We are purchasing a 3 bedroom apartment in Petersham with a mortgage. We like our Petersham solicitor, but the mortgage company advise he's not on their "panel". We have to appoint one of the bank panel solicitors or retain our Petersham lawyer and pay for one of their panel lawyers to act for them. This seems very unfair; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Petersham conveyancing solicitor to apply to be on the conveyancing panel.
My Petersham solicitor has discovered a discrepancy between the assumptions in the valuation survey and what is revealed within the legal papers for the property. My lawyer has advised that he is obliged to ensure that the bank is OK with this discrepancy and is still content to lend. Is my conveyancer’s approach right?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
I own a freehold property in Petersham but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Petersham and has limited impact for conveyancing in Petersham but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
What does a local search inform me regarding the property we're purchasing in Petersham?
Petersham conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search organisations such as Searchflow The local search plays a central role in many a Petersham conveyancing purchase; as long as you wish to avoid any nasty once you have moved into your property. The search should provide information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject sections.
Is there anything unique about your site and alternative internet conveyancing solicitors for conveyancing in Petersham?
At this site receive a conveyancing quote via a Solicitor or Licensed Conveyancer that has a full understanding of the issues for your conveyancing in Petersham. Unlike many estate agents and brokerage sites we do not have commission deals with solicitors. Many agents and online brokers 'recommend' solicitors that pays the highest per referral, as opposed to the best value conveyancing in Petersham
In my capacity as executor for the estate of my grandmother I am disposing of a property in Cardiff but I am based in Petersham. My solicitor (approximately 250 kilometers from merequires that I execute a statutory declaration before the transaction finalising. Could you suggest a conveyancing lawyer in Petersham to attest this legal document for me?
strictly speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or solicitor will be fine regardless of whether they are located in Petersham